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Claiborne Seeks to Shed 16 Apparel Brands

By

Rachel Dodes

Updated July 11, 2007 12:01 a.m. ET

Liz Claiborne Inc. is cleaning out its closet.

The long-acquisitive American sportswear maker, suffering from a downturn in department-store sales, announced today that it's seeking to divest itself of 16 of its 36 apparel brands representing $800 million of its $5 billion in annual revenue.

The move, seven months after Chief Executive William McComb joined the company from Johnson & Johnson, marks a bold reversal of the...